A Test for Anchoring and Yea-Saying in Experimental Consumption Data

Arthur van Soest () and Michael D. Hurd ()

No 147, Working Papers from RAND Corporation Publications Department

Abstract: In the experimental module of the AHEAD 1995 data, the sample is randomly split into respondents who get an open-ended question on the amount of total family consumption - with follow-up unfolding brackets (of the form: is consumption $X or more?) for those who answer "donÕt know" or "refuse" - and respondents who are immediately directed to unfolding brackets. In both cases, the entry point of the unfolding bracket sequence is randomized. These data are used to develop a nonparametric test for whether people make mistakes in answering the first bracket question, allowing for any type of selection into answering the open-ended question or not. Two well-known types of mistakes are considered: anchoring and yea-saying (or acquiescence). While the literature provides ample evidence that the entry point in the first bracket question serves as an anchor for follow-up bracket questions, it is less clear whether the answers to the first bracket question are already affected by anchoring. We reject the joint hypothesis of no anchoring and no yea-saying at the entry point. Once yea-saying is taken into account, there is no evidence of anchoring.

Keywords: unfolding brackets; non-response; anchoring; yea-saying (search for similar items in EconPapers)
JEL-codes: C81 D12 (search for similar items in EconPapers)
Date: 2003-12
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Related works:
Working Paper: A Test for Anchoring and Yea-Saying in Experimental Consumption Data (2004)
Working Paper: A test for anchoring and yea-saying in experimental consumption data (2004)
Journal Article: A Test for Anchoring and Yea-Saying in Experimental Consumption Data (2008)
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